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Feb 10, 2013 2:00am EST
interested in deficit reduction and that bank retirement than he is in a tax reduction. that does not mean there is no tax reduction in the 1950's. people who are fans of reason tax rates now and burdens on the ich point back to the 1950's here is an era of good growth and we have these really high tax rates. taht's true but -- that's true but effective tax rates declined steadily during the 1950's. colom -- policymakers' fi figured out the deal. that would reduce the effecrtive ctive rate for most taxpayers. if you look up the actual rates being paid by people, they are dropping quite quickly. it is notionally high rates but declining tax burdens. those high tax rates that economists loved to hate then did succumb to a democratic administration and then to the 1916's when the kennedy administration past the big tax cut -- democratic administration kennedy1960's when the administration passed the big tax cut. that is an unholy compromise. the rate reduction to the to the 1960's walked back a bit. broadening the base and lowering the rates was not there yet. there is a general decline
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